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Nov 30, 2012
11/12
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fedex office. >>> today's top story, markets and the fiscal cliff. stocks swing on nearly every comment coming out of washington. the american american consumer still -- she still exists. a key read on income and spending due before the bell. and in europe, an important vote, yep, we're still worried about this in germany to green light another greek bailout. it's friday, november 30th. i think that's the last day of the month. 2012. "squawk box" -- yep. "squawk box" begins right now.
fedex office. >>> today's top story, markets and the fiscal cliff. stocks swing on nearly every comment coming out of washington. the american american consumer still -- she still exists. a key read on income and spending due before the bell. and in europe, an important vote, yep, we're still worried about this in germany to green light another greek bailout. it's friday, november 30th. i think that's the last day of the month. 2012. "squawk box" -- yep. "squawk...
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Nov 27, 2012
11/12
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we also have the fiscal cliff looming ahead of us. if we don't do anything, a 4% hit to growth from a drop p in government spending and taxes does not work well in an economy that is growing at 2%. so i know it risks stating the obvious, but one of the biggest risks right now is dysfunction in washington, not getting some sort of deal done to smooth out the spending issue next year. >> paul, what's your take on housing? is the recovery for real? >> yes, it is. i called the housing recovery about a year ago and certainly the lasts six months it's really started to gather a head of steam. like eric, i don't think it will turn into a fantastic recovery, but i think it will continue and perhaps surprise people on the up side over the next six months, 12 months. >> one of the interesting points is the fact that the recovery in house an autos has been so strong this year and yet we still don't have great gdp growth. >> that's partly due to events overseas. are you getting these improvements in the domestic sectors, but we still have a huge
we also have the fiscal cliff looming ahead of us. if we don't do anything, a 4% hit to growth from a drop p in government spending and taxes does not work well in an economy that is growing at 2%. so i know it risks stating the obvious, but one of the biggest risks right now is dysfunction in washington, not getting some sort of deal done to smooth out the spending issue next year. >> paul, what's your take on housing? is the recovery for real? >> yes, it is. i called the housing...
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Nov 19, 2012
11/12
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i don't think we go over the fiscal cliff, but i don't think we're close to a solution. in 40 days, we won't get to a solution that will take away 25 years of prove la gat spending. so they're waiting and watching what's going on in the middle east. if there's a ground war that could wreak havoc in our markets. or rop is muddling along. it's a big trading partner for us. we'll have a bit of difficulty. and we're watching closely the transition of power in china. >> president obama continues to press his case for avoiding the fiscal cliff in january. the white house says he spoke with several more ceos this weekend including jamie dimon, warren buffett and tim cook. the president met with top u.s. lawmakers to begin wunl h. budget talk. both sides are saying they're confident they can reach a deficit cutting deal. >> every member of our caucus appreciates that this fiscal cli sis is ever closer. and that's doctor we need to negotiate through the process and make sure we come up with a real solution that will actually solve the problem. >> what i hear is a perceptible chan
i don't think we go over the fiscal cliff, but i don't think we're close to a solution. in 40 days, we won't get to a solution that will take away 25 years of prove la gat spending. so they're waiting and watching what's going on in the middle east. if there's a ground war that could wreak havoc in our markets. or rop is muddling along. it's a big trading partner for us. we'll have a bit of difficulty. and we're watching closely the transition of power in china. >> president obama...
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Dec 3, 2012
12/12
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fiscal cliff negotiations have stalled on tax hikes. geithner is confident republicans will yield. manufacturing activity in china speeds up in november while the eurozone is confirmed in contraction. and singapore airlines is looking to sell its stake in virgin atlantic. delta reported to be the frontrunner. tax issues here in the uk on the corporate front. starbucks is reconsidering its tax arrangements for british operations in the wake of criticism by politicians and the media. the coffee chain is expected to make an announcement on the issue later this week. the same time, the british government will unveil a $10 billion plan to clamp down on tax avoidance by foreign mumity nationals. and italy, charges that they avoided taxes. claude kra hia has the details. >> possibly a fashion faux pas down here. they actually were tried already in 2011 for part of what they are being accused of today and they were actually -- the trial was closed. but the investigation was reopened after an appeal made by the state. and today they will be heard. what they're being accused of is after havi
fiscal cliff negotiations have stalled on tax hikes. geithner is confident republicans will yield. manufacturing activity in china speeds up in november while the eurozone is confirmed in contraction. and singapore airlines is looking to sell its stake in virgin atlantic. delta reported to be the frontrunner. tax issues here in the uk on the corporate front. starbucks is reconsidering its tax arrangements for british operations in the wake of criticism by politicians and the media. the coffee...
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Nov 13, 2012
11/12
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goes over the fiscal cliff, s&p says it won't necessarily lead to a ratings down graund. currently a aa plus with a negative outlook. tim stanley is back with us from oxford university with a particular interest in u.s. politics. tim welcome. the last time you were here we were talking about whether romney could pull off a win in the election. he quite clearly did not. what now as you sort of look at the aftermath of the election, though, and the prospects for some agreement here. >> do you see as the likelihood that we get an agreement before the end of the year? >> the fact that he lost is important for negotiations because it means the republicans are winded. they're on the book into the. they held control of the house so they're in a very important bargaining position because bills have to originate there. but there's no denying that the tea party was given a set back with the defeat of people like allen west in the house and with various senate yol candidates. but romney was beaten with a tax plan not dissimilar from the one boehner is currently pushing which is we w
goes over the fiscal cliff, s&p says it won't necessarily lead to a ratings down graund. currently a aa plus with a negative outlook. tim stanley is back with us from oxford university with a particular interest in u.s. politics. tim welcome. the last time you were here we were talking about whether romney could pull off a win in the election. he quite clearly did not. what now as you sort of look at the aftermath of the election, though, and the prospects for some agreement here. >>...
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Jul 27, 2012
07/12
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economy will have to face this fiscal cliff in january. this of course in reference to when tax hikes and automatic spending cuts take effect if congress doesn't reach a new budget agreement. it's made many companies hold off on expansion and hiring. >> it's really not stopping us considerably from hiring or expanding, but i'm probably not going to make that next investment until i know what that's going to be and i'll probably look at what are 2013 performance is likely to be and be more cautious than optimistic, not on earnings as much as deployment of capital. >> i think we're on a collision course with time if the leadership in washington doesn't address the fiscal issues, and, in fact the consumer confidence that's being fractured across the country. >> a lot of concern there from business leaders and we heard greg talking about it. tuning the fiscal live is a significant factor here in the u.s. slow down? >> absolutely. what we're looking at is a u.s. economy and a world economy where the private-sector cannot carry the baton itself.
economy will have to face this fiscal cliff in january. this of course in reference to when tax hikes and automatic spending cuts take effect if congress doesn't reach a new budget agreement. it's made many companies hold off on expansion and hiring. >> it's really not stopping us considerably from hiring or expanding, but i'm probably not going to make that next investment until i know what that's going to be and i'll probably look at what are 2013 performance is likely to be and be more...
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Mar 8, 2012
03/12
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bernanke has gone about this fiscal cliff at the end of next year, are tax cuts, spending cuts coming in and the medicare taxes kick in as well. that's a big shock. how do they navigate that? >> it depends whether some of these things will be extended or not, potentially could amount to around 1% of gdp through fiscal consolidation for next year. the u.s. hasn't really had to confront that. there's a misscal consolidation that went on last year. i think the u.s. economy can weather that provided the unemployment rate keeps trending lower here. but if you look at a chart of u.s. unemployment and you look at how it's come down, okay, it's very, very high admittedly. more rapidly, in fact, than the previous two cycles. anytime i think that will be helping to support consumer spending power. >> julian, good to have you today. julian callow of barclays capital. it's time for jackie to arrive for the next hour of the program. good morning, jackie. what's coming up? is>>> good morning, guys. great to see you, too. well, it seems there's no stopping carlos slim when it comes to wealth, topped
bernanke has gone about this fiscal cliff at the end of next year, are tax cuts, spending cuts coming in and the medicare taxes kick in as well. that's a big shock. how do they navigate that? >> it depends whether some of these things will be extended or not, potentially could amount to around 1% of gdp through fiscal consolidation for next year. the u.s. hasn't really had to confront that. there's a misscal consolidation that went on last year. i think the u.s. economy can weather that...
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Dec 20, 2012
12/12
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energy stance. >> maybe we can solve the fiscal cliff, too, if we agree to spend all the money on building out the shale infrastructure. >> well, i mean, the keystone pipeline was an example of that. there's lots of things that have to be done to get it going again. there's lots of things that the government can do to encourage that. and if the government is going to spend money, they might as well spend it on encouraging a dorgy resource. that's a pretty good investment for the future as opposed to a lot of other things. >> all right. drew mattes, economist at ubs joining us this morning ahead of those gdp futures. good third quarter, questions still loom for 2013 and for the current period. stick around. coming one b we'll find out why alisher usmanov feels facebook has yet to be understood. his comments when we come back. [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. >>> u.p.s. will be working overtime to g
energy stance. >> maybe we can solve the fiscal cliff, too, if we agree to spend all the money on building out the shale infrastructure. >> well, i mean, the keystone pipeline was an example of that. there's lots of things that have to be done to get it going again. there's lots of things that the government can do to encourage that. and if the government is going to spend money, they might as well spend it on encouraging a dorgy resource. that's a pretty good investment for the...
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Jun 5, 2012
06/12
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>> and which is the bigger concern for investor, the fiscal cliff, or should we expect sort of a fudge, should it be the debt ceiling that we might hit early next year. >> i think should be the fiscal. the debt ceiling, that tends to be a big media employ it by congress as a threat, but they elementally reach some resolution. so i think worrying more about what we do fiscally and what we do longer term is more important. >> all right. allison will stay with us. >> there are reports that the timing of the g-7 call will happen at 11 gmt. that i believe is noon british time. >> it is. >> so 7:00 a.m. eastern. >> so people still having to get up early on the east coast. but coming up, we go picking through the junkyard. demand for junk bonds has dried up. is now the time to buy. >>> these are your headlines. g-7 leader are holding crisis talks with spain. officials reportedly worrying about a run on the nation's banks. >> and oecd says there is no reason it should pay 7 percentage interest when it's taking the right steps. >> and the service sector confirmed how that it is in conversion as
>> and which is the bigger concern for investor, the fiscal cliff, or should we expect sort of a fudge, should it be the debt ceiling that we might hit early next year. >> i think should be the fiscal. the debt ceiling, that tends to be a big media employ it by congress as a threat, but they elementally reach some resolution. so i think worrying more about what we do fiscally and what we do longer term is more important. >> all right. allison will stay with us. >> there...